7 Robinhood Penny Stocks You Need to Check Out
Finding penny stocks on Robinhood is a great way to stay ahead of the game. But, with hundreds of penny stocks to choose from, it can be difficult to pick just a handful. Most investors tend to use Robinhood as only a brokerage rather than a research tool, and there’s a good reason for this.
So, for research purposes, investors may want to use tools like ThinkorSwim, Pennystocks.com, and any other informative platforms. And as always, traders should do their own deep dive into every company on their list of penny stocks to buy. This way you can be sure that every factor going into what makes a penny stock move, is accounted for.
Because Robinhood is one of the most popular intuitive platforms out there, it is highly popular among retail traders and those without a seven-figure portfolio balance. And in the past year, we’ve seen retail traders gain a new sense of power in the stock market, following the rise of companies like AMC stock, GME stock, and others.
Keep in mind that this list is a continuation of ‘Best Penny Stocks to Buy on Robinhood? 3 For Your Morning Watchlist’. So, if you haven’t read that yet, now could be the time to take a look. Considering all of this, let’s take a look at three more penny stocks to watch right now.
3 More Robinhood Penny Stocks to Watch Right Now
- BSQUARE Corp. (NASDAQ: BSQR)
- Inuvo Inc. (NYSE: INUV)
- Professional Diversity Network Inc. (NASDAQ: IPDN)
BSQUARE Corp. (NASDAQ: BSQR)
Up by a very impressive 41%, or so in morning trading are shares of BSQR stock. While technically, BSQR is no longer a penny stock at $5.64, it was only a day earlier. For this reason, it’s worth considering right now. For some context, BSQUARE is a tech company offering intelligent cloud-based solutions as well as data sharing capabilities.
There is a combination of two factors at play right now that is making BSQR stock move. On one hand, the influence of retail traders such as those on Robinhood or Reddit is causing BSQUARE to trend highly. And, on the other hand, many investors believe that BSQR could have potential as the global economy continues to reopen and business resumes.
In its latest balance sheet report, issued in May, the company posted $10 million in revenue, which albeit is a 10% decrease over the quarter prior. But, the company has a firm belief that the IoT market is growing substantially, and will continue to need its help to do so. While its revenue decrease may seem disheartening, this is simply the result of the pandemic and its effects on all businesses. So, keeping all of this in mind, will BSQR stock be on your watchlist?
Inuvo Inc. (NYSE: INUV)
Another big gainer of the day is INUV stock, pushing up by around 10% at midday. In the past month, shares of Inuvo have shot up by around 26% and in the past six months, that number jumps up to over 115%. So, why is there so much bullish sentiment surrounding INUV stock right now? Well, to understand it, let’s talk about what Inuvo does.
Inuvo is an artificial intelligence company, working to provide powerful data for advertisers and more. Only a few weeks ago, it announced an expansion of its geographic footprint into Canada. This includes its IntentKey product, which will help boost the use of AI in advertising in Canada.
“The value proposition for Canadian companies is strong: we can serve both their domestic and American advertising objectives; we can beat current providers performance results; we can run it all for them or they can use it in-house; and we are future proof as our technology is not dependent on third-party data or cookies.”Rich Howe, CEO of Inuvo
This is an impressive feat and one that could play out in the longer-term future of INUV. Considering these big moves, will Inuvo Inc. be on your list of penny stocks to watch?
Professional Diversity Network Inc. (NASDAQ: IPDN)
Continuing with the theme of large gainers today, IPDN stock is up by almost 30% at midday. In the past month, shares of IPDN stock have climbed by over 42% to its current price of just under $2.50 per share. We’ve covered Professional Diversity Network Inc. plenty of times in the past few months. But, if you’re not familiar, let’s give it another look.
As its name suggests, IPDN is a developer of online platforms that allow networking and professional development in the U.S. This includes its subsidiary, the International Association of Women, which is one of the largest networks for professional women in America. In its latest financial results, IPDN posted a 51% increase in revenue as well as a solid decrease in its EPS loss.
“Our PDN Network had a very strong first quarter and we anticipate that the continued corporate and political awareness in terms of greater diversity recruitment and inclusion initiatives will continue to benefit the Company, and in turn society as a whole.
We continue to invest in our operating segments to drive organic growth, and look to better position the financial strength of the Company for the future.”Adam He, CEO of Professional Development Network
Companies like IPDN have been growing substantially as jobs reports in the U.S. show increasing employment. While the future is uncertain right now, many similar companies are seeing increased bullish sentiment. Whether this is enough to make IPDN stock worth adding to your watchlist, however, is up to you.
Are Robinhood Penny Stocks Worth Buying?
Finding the best penny stocks on Robinhood is all about knowing where to look. Because the choices are almost endless, it’s up to investors to seek out which penny stocks have the most value right now and in the future.
With Covid cases increasing in parts of the world, many investors are turning to penny stocks that were gainers during the earlier stages of the pandemic. But, with so much positivity in the market right now, it could be easy to find winners. With all of this in mind, do you think that Robinhood penny stocks are worth it?
To read about the rest of the penny stocks on this list head to Best Penny Stocks to Buy on Robinhood? 3 For Your Morning Watchlist